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Commercial opportunity in Mansfield CT featuring a 5-bay garage on approximately 1. 6 acres with strong visibility along Route 32. Property includes a 4, 700+ SF building with 5 garage bays, office space, and large parking area. Long history of commercial use including automotive repair, used car sales, country store/market, beer, gasoline, restaurant use (historical), and a 2-bedroom apartment with separate entry. Located in a residential zone with pre-existing commercial use. Ideal for contractor, automotive user, service business, or investor seeking a value-add opportunity. Convenient access to UConn, I-84, and surrounding towns. Strong potential for owner-user or redevelopment. Includes multiple overhead doors, service bay layout, and on-site parking suitable for equipment, vehicles, or contractor operations. High visibility location with strong daily traffic count. Property offers flexibility for a variety of commercial and service-related uses subject to approvals. Rare opportunity to acquire a legacy property with this combination of building size, land area, and established use history in the Mansfield area. Property requires cleanup and repairs including roof-related work and interior remediation, and is being sold as-is. Buyer to perform due diligence regarding zoning, approvals, environmental conditions, and intended use. See additional public remarks. . . BUY TODAY!! Pre-existing commercial use; agents and buyers are encouraged to verify continuation of use with the Town of Mansfield. Automotive sales, repair, or related uses may require separate licensing and approval through the State of Connecticut DMV in addition to local zoning verification. Buyer to perform all due diligence regarding zoning, approvals, environmental conditions, and intended use.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $276,000 | $276,000 | $276,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.375% | 5.490% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.512% | 5.710% |
| Monthly Tax Payment | $546 | $546 | $546 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,653 | $1,722 | $2,254 |
| Total Monthly Payment | $2,274 | $2,343 | $2,875 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.